MARC has revised its outlook on Sunrise Berhad’s (Sunrise) ratings of MARC-1ID /A+ID on RM70.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN) and A+ID on its RM400.0 million IMTN facility to stable from positive. Concurrently, MARC has affirmed the ratings. The outlook revision to stable reflects expectations of moderation in sales momentum and potential mar...

MARC has withdrawn the A+ID rating assigned to Sunrise Berhad’s (Sunrise) RM100.0 million Bai’ Bithaman Ajil Notes Issuance Facility (BBA) with immediate effect following the full redemption of the BBA.With the redemption of the BBA, MARC’s rating obligations are now limited to Sunrise’s RM70.0 million Murabahah Notes Issuance Facility/Islamic Medium Term Notes (MUNIF/IMTN)...

MARC has withdrawn the AA- (cg) rating assigned to WCT Land Berhad’s (WCT Land) RM132.0 million Convertible Redeemable Debt Securities (CRDS) with immediate effect following the full redemption and cancellation of the facility....

MARC’s AIS rating on Ingress Sukuk Berhad’s (Ingress) RM160 million Sukuk Al Ijarah Issuance Programme, remains on MARCWatch Developing following an extension of the remedy period given to Ingress until July 26, 2008,  to resolve a breach in certain financial covenants under the Ijarah Agreement. Notwithstanding, MARC acknowledges the Sukukholders’ rights of acceleration und...

MARC has revised its rating outlook to stable from developing on Tenaga Nasional Berhad's (TNB) AA+ long-term issuer rating and MARC-1ID/AA+ID Islamic debt issue ratings to reflect the utility's recent success in securing offsetting tariff increases effective July 1, 2008 to counter increases in fuel and purchased power expenses. Concurrently, MARC has reaffirmed the ratings to the following issue...

MARC has reaffirmed its MARC-2ID rating on MM Vitaoils Sdn Bhd’s (MMV) RM70.0 million Murabahah Commercial Papers Programme (MCP). The rating outlook has been revised to stable from developing. The rating is supported by the downstream edible oil producer’s diversified export revenue base, rising per capita consumption trends in end markets, its improving cost structure and adequate li...

MARC has affirmed its MARC-1ID/AID ratings on Tomei Consolidated Berhad’s (Tomei) RM100.0 million Islamic Commercial Paper/Medium-Term Notes (ICP/IMTN) Programme. The ratings carry a stable outlook. The affirmed ratings reflect the strength of the jeweller’s domestic franchise and liquidity while acknowledging challenges common to all domestic jewellers posed by declines in consumer co...

MARC has revised the outlook on its AA+(S) rating on Titisan Modal (M) Sdn Bhd’s (TMSB) RM738.0 million Fixed Rate Serial Bonds to developing from stable.  The outlook revision reflects operational uncertainty that is being created by proposals by the new Selangor State Government (SSG) to restructure the state’s water industry. MARC believes that these proposals could have either...

MARC has downgraded its long-term rating on Evermaster Group Berhad’s (“EGB” or “the Group”) RM50.0 million Al-Bai Bithaman Ajil Islamic Debt Securities (“BaIDS”) and RM40.0 million Murabahah Multi-Option Notes Issuance Facility (“MONIF”) to BBB-ID from BBB+ID. The lowered long-term rating and EGB’s MARC-3ID short-term rating remain on MA...

MARC has affirmed ratings of A+ID / MARC-2ID to Capable Aspect Sdn Bhd’s (CASB)  RM40 million Islamic Medium-Term Notes Issuance Facility/ Murabahah Underwritten Notes Issuance Facility (‘IMTN/MUNIF) respectively. The ratings carry a stable outlook. The ratings for CASB principally reflect the low risk business profile, strong financial performance and improved credit protection m...